Examining Biochar Carbon Markets: A Potential Threat to Mitigation Deterrence

This article scrutinizes the potential impact of emerging UK biochar carbon markets on mitigation deterrence. Techno-optimism clashes with skepticism, revealing fictional expectations. The speculative nature of biochar markets poses a threat, urging cautious policymaking for effective climate change mitigation without unintended delays in emissions reduction efforts.

February 27, 2024

1–2 minutes

Price, Morris, & Morris (2024) BiocharBiochar is a carbon-rich material created from biomass decomposition in low-oxygen conditions. It has important applications in environmental remediation, soil improvement, agriculture, carbon sequestration, energy storage, and sustainable materials, promoting efficiency and reducing waste in various contexts while addressing climate change challenges. More carbon markets: A mitigation deterrence threat. Environmental Science & Policy. https://doi.org/10.1016/j.envsci.2024.103704

The urgency to combat climate change has led to a surge in exploration of greenhouse gas removal (GGR) technologies. Among these, biochar holds promise as a carbon-rich substance with potential agricultural benefits. However, this article delves into the concerns surrounding the emergence of biochar carbon markets in the UK, questioning whether they may inadvertently contribute to delays in emissions reduction—a phenomenon referred to as mitigation deterrence.

The literature on mitigation deterrence emphasizes the systemic risks associated with the introduction of alternative climate interventions. As the world grapples with the imperative to decarbonize, the potential for delays looms large, extending the timeline for global warming. This study contributes to the evolving empirical mitigation deterrence literature by focusing on biochar and its associated carbon markets.

Biochar, a key GGR approach under a £30 million UK Research and Innovation program, is hailed for its carbon sequestration potential and agricultural co-benefits. Despite its promise, the mass production and deployment of biochar face economic hurdles. Proposals to establish biochar carbon markets aim to alleviate these challenges by attracting investments and reducing production costs.

Drawing from the social studies of finance, this article employs a conceptual approach that scrutinizes both narratives and materialities within biochar carbon markets. Original data from 33 interviews with UK-based experts, conducted in 2022, form the backbone of the study, offering insights into the perceptions and expectations surrounding these markets.

The analysis dissects the dichotomy between techno-optimism, driven by fictional expectations of future carbon credit trading, and skepticism from experts who question the credibility of such narratives. While the creation of a UK-based biochar carbon market remains speculative, the assumption of its inevitability poses a threat to mitigation deterrence.

In conclusion, this study underscores the importance of critically evaluating the implications of biochar carbon markets on emissions reduction timelines. Policymakers are urged to tread cautiously, considering the speculative nature of these markets and their potential impact on the overarching goal of mitigating climate change.